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NORTHROP GRUMMAN CORPORATION

(NOC)
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Northrop Grumman Corporation : - AARGM-ER will provide U.S. Navy unmatched extended range capabilities

10/01/2021 | 12:01pm EST

LOS ANGELES - The U.S. Navy has awarded Northrop Grumman Corporation (NYSE: NOC) the contract to proceed with low rate initial production (LRIP) for the AGM-88G Advanced Anti-Radiation Guided Missile Extended Range (AARGM-ER).

Northrop Grummans Advanced Anti-Radiation Guided Missile Extended Range Transitions into Low Rate Initial Production

The AARGM-ER is launched from a US Navy F/A-18 during a successful live fire test at Point Mugu Sea Test Range, California. (U.S. Navy Photo)

'LRIP marks a significant step forward for AARGM-ER and the confidence the U.S. Navy has in the program and its capabilities,' said Captain Alex Dutko, Navy Program Manager for Direct Time Sensitive Strike (PMA-242). 'AARGM-ER will provide the U.S. Navy and our allies with unmatched protection.'

As the AARGM-ER prime contractor, Northrop Grumman has worked with a team of U.S. Navy and industry partners to develop an effective, production missile design, successfully achieving Milestone C in just 28 months following engineering and manufacturing development contract award. The team worked tirelessly to mitigate risk and prove system maturity.

'The evolution of the AARGM family with AARGM-ER is a major step in our ability to provide the U.S. and our allies with a superior capability to detect and defeat adversary air defense threats,' said Gordon Turner, vice president, advanced weapons, Northrop Grumman. 'This milestone underscores the exceptional effort and professionalism demonstrated by the government and industry team.'

AARGM-ER is a major upgrade to existing AARGM, currently in production and fielded with the Navy and multiple allies today.

AARGM-ER is being integrated on the Navy F/A-18E/F Super Hornet and EA-18G Growler aircraft as well as the Air Force F-35A, Marine Corps F-35B, and Navy F-35C aircraft.

Northrop Grumman is a technology company, focused on global security and human discovery. Our pioneering solutions equip our customers with capabilities they need to connect, advance and protect the U.S. and its allies. Driven by a shared purpose to solve our customers' toughest problems, our 90,000 employees define possible every day.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 36 060 M - -
Net income 2021 5 244 M - -
Net Debt 2021 8 285 M - -
P/E ratio 2021 11,2x
Yield 2021 1,69%
Capitalization 57 497 M 57 497 M -
EV / Sales 2021 1,82x
EV / Sales 2022 1,77x
Nbr of Employees 97 000
Free-Float 99,8%
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Number of Analysts 17
Last Close Price 362,67 $
Average target price 397,69 $
Spread / Average Target 9,66%
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Managers and Directors
Kathy J. Warden Chairman, President & Chief Executive Officer
David F. Keffer Chief Financial Officer & Vice President
Richard Scott Stapp Chief Technology Officer
Carl Hahn Chief Compliance Officer & Vice President
Donald E. Felsinger Lead Independent Director
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